Another round of fuel price hike seen in 2nd week of 2025

After a round of about a peso per liter hike in pump prices this week, another series of increases in the retail prices of petroleum should be expected by consumers in the second week of 2025.

The estimated per liter upward adjustments are as follows:

• Gasoline - P0.40 to P0.70
• Diesel - P0.45 to P0.75
• Kerosene - P0.65 to P0.75

The estimated price adjustments are based on international petroleum trading in the past four days, according to Department of Energy-Oil Industry Management Bureau Assistant Director Rodela Romero.

The energy official attributed the anticipated fuel price hike to the following international developments:

• OPEC and Russian production data showing both declined in December
• New employment survey from US showed lay offs were low and job openings were growing, suggesting a strong economy
• Anticipated rise in Asian demand due to economic stimulus package of China
• Due to cold blasts in the US and Europe where several US states have declared a state of emergency

Fuel firms announce official price adjustments every Monday, which will take effect on the following day.

Effective Tuesday, January 7, 2025, oil companies raise the per liter prices of gasoline and kerosene by P1.00; while diesel price has been increased by P1.40 per liter.

These are the first pump price adjustments for 2025. 

In 2024, gasoline and diesel had a total net increase of P12.75 per liter and P11.00 per liter, respectively. 

On the other hand, kerosene had a total net decrease of P2.70 per liter last year.

--VAL, GMA Integrated News